Which of the Following Terms Is(are) Also Recognized as Social

question 66

Multiple Choice

Which of the following terms is(are) also recognized as social venture philanthropy?

• A) Social venturing
• B) The new philanthropy
• C) High-engagement philanthropy
• D) All of the above.
• E) Only B and C above.

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Definitions:

Basis of Accounting

The methodology under which revenues and expenses are recognized in the financial statements, examples include cash basis and accrual basis.

Statement of Activities

A financial report detailing the revenues, expenses, and changes in net assets of an organization, typically used by nonprofits.

GAAP Definition

Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting used in any given jurisdiction, especially in the United States.

Nonreciprocal Transaction

A transaction where one party provides goods, services, or assets without directly receiving something of equivalent value in return.